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Low Vol Outside of Supply

CREDIT UPDATE

Not much vol for credit names after US equities open, $IG prints still pointing to a move wider while €IG is skewed firmly tighter & adding to a 13 straight session rally - exceptions are mainly curves making room for supply (Metro +12, Honeywell +4, Maersk +4). Only major mover in local issuer equities today was Bank of Ireland {BIRG ID Equity -11%} on earnings - snr cash lines (A3, BBB) traded it through it (unch).

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